Business Setup in Dubai Media City (DMC)

INTRODUCTION

Dubai Media City Free Zone (DMC) is part of TECOM Group, which is part of Dubai Holding. TECOM Media City was established in the year 2000. It’s located in one of Dubai tax-free zones. It was the idea of the government to have this zone constructed to help the UAE with its media sector. Now, with lots of business setup in Dubai Media City, the UAE is full of news agencies, publishing, advertising, production, etc., making it a media hub.

Dubai Media City Free Zone houses more than 1,300 Dubai freezone companies. Every kind of media business is allowed in this place. This is why investors who are looking to conduct a business setup in Dubai Free Zones choose this location if they are after establishing a media-centric business. Nowadays, Dubai Media City company setup has brought known global media organizations to this location, such as CNN, CNBC, Reuters, MBC, Sony, etc.

Dubai free zone company formation in Dubai Media City, like any other free zones, has its own process that it follows for everything to be in order when it comes to Dubai freezone company setup. It is advisable that when investors have decided that their decision to form a company in TECOM Media City is final, business setup consultants in Dubai should be reached so that the proper information can be obtained. Indeed, most Dubai freezone companies, if not all, need the help of these people for them to conduct Dubai freezone company setup anywhere in the country. These consultants exist to help the business owners to have the information that they need before they start a Dubai free zone company formation. It helps a great deal when you have the correct information with regard to Dubai free zone license cost and Dubai freezone company setup cost. With this, you can start a plan on how much you would need exactly for the first few months or even for the first year of your company’s operations. To have an even more informative plan, you can even find out about the Dubai free zone company registration fees. In addition, aside from having the power to ask Dubai Media City license fees, but also in regards to the documents required for trade license renewal in Dubai. Before you even take one step forward to establish your organization, business consultants in Dubai will make sure that you are aware of TECOM registration and licensing and the way it is done. The main advantage of having a consultant, of course, is that these people will take care of your Dubai Media City company setup. When you have chosen the right company formation consultants in Dubai to handle your affairs, you can be sure to have a successful beginning.

BENEFITS

Business setup in Dubai is a normal setting that almost every investor does when they enter the country. And for the past few years until now, business setup company in Dubai has been rampant. As a Dubai free zone authority, this TECOM free zone continuously aids the UAE economy when it comes to attracting investors to conduct a business formation in Dubai.

Dubai Media City companies enjoy a number of Dubai free zone benefits. For one thing, Dubai free zone company formation cost can be considered as one of its advantages as well. More benefits that this certain Dubai technology and media free zone has to offer are listed below:

100% foreign ownership

In the UAE mainlands, free zone company setup can only be carried out if there is a local sponsor. This person will have 51% of the shares of the company that you will establish. However, conducting a freezone company formation has the advantage of having 100% ownership of your own company. A local sponsor will not be needed in a free zone.

Location

It is placed in the Middle East, Africa, and South Asia’s intersection that makes them easily found. Dubai Media City is now a global media hub. DMC offers investors with facilities that meet the requirements of media-related companies so they can operate with ease.

Tax exemption

Value-added tax (VAT) has been implemented at the start of 2018. It is applied to some goods and services. There is still a huge advantage for business owners who want to invest, however, because the government has not mandated the companies to account for corporate and income taxes. There are a lot of businessmen looking for this kind of tax exemption and this free zone has this advantage to offer.

There are a lot more benefits that free zone company registration Dubai can give to you when you carry out one. The following additional benefits are listed below:

State-of-the-art teleport/uplink/play-out

High-speed broadband and telecommunication access

Production and post-production facilities and studios

Growth opportunities

Full repatriation of profits and capital

Exemption from customs duty for goods and services

A unique environment that allows businesses to interact and collaborate effectively with other industries

World-class infrastructure to help support the growth of the cluster

Simplified process of incorporating business

Company laws and legal framework are business friendly and hassle-free

Provides business partners with a variety of government services, including licensing, visa, traffic, and postal services

24-hour visa service

Fast-track immigration process

Networking opportunities

BUSINESS ACTIVITIES

It is always important to know which business activities are allowed in a certain location before taking a step in freezone company formation in the country. A company formation in Dubai Media City with the following business activities are allowed:

Broadcasting

Publishing

Advertising

Public Relations

Research

Music

Post Production

SUPPORT SERVICE

FAR Consulting Middle East with more than 30 years of experience in helping businessmen with their business setup in Dubai free zones, is one of the top firms that offer business setup services in Dubai.

For more than three decades, we have been helping business owners with their business setup in Dubai free zones. We believe that the right information should be gathered first by the client before having a final decision before they open a company in Dubai free zone. Everything that we know that the client has to know will be given to them, like information on Dubai media city license fees and TECOM registration and licensing. We know that when an investor is aware of the Dubai free zone company registration fees, a better financial plan can be done ahead of time. We believe that having a good amount of right information can is essential before taking a step towards forming your company.

As our firm is one the leading business consultancy services in Dubai, we are capable of doing the following services if you let us take care of your business setup in UAE free zones:

Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)

Representing the client in front of the authorities

Assisting the client in bank account opening

Assisting the client in account opening with the Ministry of Labour

Assisting the client in account opening with the UAE immigration

Assisting the client in leasing a premise as an address for the business

TIMELINE/PROCEDURE

The procedure of processing your business setup in Dubai Media City will range from 2 to 4 weeks.

REQUIREMENTS

Requirements for Business Setup in Dubai Media City

Application form (our firm’s task)

Letter of Intent (our firm’s task)

Your existing company brochure (if available)

Annual financial report or shareholder(s)’ 6-month bank statement for the shareholder not applicable for new registration

Copy of the manager’s passport and his CV

Copy of shareholder(s)’ passport and CV

Original (not a copy) bank reference letter (for each shareholder)

No Objection Letter by the current sponsor for the manager (if a resident of UAE and a UAE employment visa-holder)

Additional Documents Required for a Corporate Shareholder and for Branch

Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin.

Board resolution to be resolute by the board of directors for your existing company/entity at the place of origin, expressing intent of establishing a new setup abroad—it must be attested and notarized by the UAE Embassy (template will be forwarded by our firm)

Certificate of registration (if applicable) for your existing company/entity, license, or certificate of incorporation of your existing company/entity attested and notarized by the UAE Embassy

When all the above is complete, your business license will then be issued along with the share capital certificate if the capital is paid in full.

FEES

Dubai Media City License Fees

The below table shows the estimated Dubai free zone company formation cost in Media City, which also includes Dubai free zone license cost. If need be, you can contact us for further clarification and information.

Dubai Freezone Company Setup Cost Table of Estimated Government Cost and Professional Fees

Trade License Option/Activity

Cost in USD

Cost in AED

Industrial License

USD 2,570

AED 9,375

Commercial License

Specific Trading

USD 2,570

AED 9,375

Oil & Gas

USD 3,425

AED 12,500

Real Estate

USD 5,135

AED 18,750

Aviation

USD 5,135

AED 18,750

General Trading License

USD 5,135

AED 18,750

Service License

Specific Services

USD 2,570

AED 9,375

Oil & Gas

USD 3,425

AED 12,500

Freight Forwarding

USD 2,910

AED 10,625

Real Estate

USD 5,135

AED 18,750

Aviation

USD 5,135

AED 18,750

Our Firm’s Professional Fees

USD 5,000

AED 18,365

ATTENTION – NOTE

All fees for government and related authorities are estimation only. The exact government fees will be determined at the time of submission of the applications. We are obligated to provide our clients with all receipts of government and related agencies against the amount that will be paid. Every amount that will expense for your business registration will be supported by documents. In case of shortage, the client has to repay us. In case of excess, we have to refund the client.

Our professional fee covers consultation, drafting of legal documents, introducing reliable local citizen service-agent when required, assisting in document notarization from the local notary public, assisting in local bank account opening, and applying to the concerned authorities on your behalf.

RELATED SERVICES

Besides our job of helping you with your company setup in Dubai Media City, we have more services that we can offer that can help you as you start your company: